India leading in global fight against climate change: World Bank

With solar power increasingly being used to replace coal, the cost of electricity from solar photovoltaic (PV) is currently a quarter of what it was in 2009

India is leading the fight against climate change, a World Bank report highlighted . India was lauded for its commitment to solar power, innovative solutions and energy efficiency initiatives to support its vision of supplying its people with a constant supply of electricity by 2030.

“With its conscious choice to use significantly more clean energy to fuel its growth, India is contributing to global efforts to save the planet from the effects of climate change,” the report noted.

With solar power increasingly being used to replace coal as a source of energy, the cost of electricity from solar photovoltaic (PV) is currently a quarter of what it was in 2009, and is slated to be slashed by another 66 per cent by 2040.

The report also highlighted the country’s enormous potential in the solar segment, with access to as many as 300 days of sunshine every year, which is a major incentive for attracting foreign investment in the segment.

The impact is also duplicated in the market, with the sale of solar units capped at Rs. 2.44 per unit or four cents per unit.

“The Indian government is setting ambitious targets that include 160 gigawatts (GW) of wind and solar by 2022, which will not only help hundreds of million people light their homes, but also enable children to study at night, provide families with refrigerators to preserve their food or TVs to entertain themselves,” the report noted India is leading the fight against climate change, a World Bank report highlighted . India was lauded for its commitment to solar power, innovative solutions and energy efficiency initiatives to support its vision of supplying its people with a constant supply of electricity by 2030.

“With its conscious choice to use significantly more clean energy to fuel its growth, India is contributing to global efforts to save the planet from the effects of climate change,” the report noted.

With solar power increasingly being used to replace coal as a source of energy, the cost of electricity from solar photovoltaic (PV) is currently a quarter of what it was in 2009, and is slated to be slashed by another 66 per cent by 2040.

The report also highlighted the country’s enormous potential in the solar segment, with access to as many as 300 days of sunshine every year, which is a major incentive for attracting foreign investment in the segment.

The impact is also duplicated in the market, with the sale of solar units capped at Rs. 2.44 per unit or four cents per unit.

“The Indian government is setting ambitious targets that include 160 gigawatts (GW) of wind and solar by 2022, which will not only help hundreds of million people light their homes, but also enable children to study at night, provide families with refrigerators to preserve their food or TVs to entertain themselves,” the report noted